Millennial Lithium Corp.
TSX VENTURE : ML
OTCQB : MLNLF

Millennial Lithium Corp.

November 16, 2016 05:00 ET

Millennial Lithium Corp.: Drilling Commenced At Pastos Grandes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 16, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML)(OTCQB:MLNLF) ("Millennial" or the "Company") reports it has commenced the Phase I lithium brine drilling program at its Pastos Grandes Project in Salta Argentina.

The Phase I program consists of drilling a pair of holes at two or more sites in the salar to establish stratigraphic and porosity data, trial brine extraction and evaporation trials. At each site, an HQ core hole will test the salar to as deep as 350 metres, or deeper if warranted, providing valuable depth-specific lithological information, samples for brine analysis and permeability testing of individual brine aquifers. Each core hole will subsequently be used as a monitoring well for an adjacent pumping test well. Pumping test wells will be completed with 10-inch casing to allow a greater pumping extraction rate than previously tested at this salar. Brine extracted from the wells will be tested on-site with detailed analysis to determine evaporation, concentration and lithium extraction characteristics being completed at a certified laboratory.

Previous drilling at Pastos Grandes determined the presence of lithium-bearing brine to depths of as much as 170 metres. The previous drilling program, which targeted the halite in the basin, did not identify the base of the mineralized brine-hosting formations, nor did it confirm the results of geophysics that appeared to indicate the presence of deeper brine bodies.

In contrast, Millennial, targeting the porous sediments, plans on drilling to much greater depths as subsequent results of more advanced lithium projects in the Puna de Atacama or Puna Plateau in the Andes Region of Northern Chile and Argentina have concluded that brine can be found at greater depths, and in some cases occurs in the coarser sediments that were deposited early during the filling of those basins. Coarser sediments, with larger and more interconnected pore spaces have the potential to increase well yields. Such has been found to be the case at Centenario-Ratones and Cauchari-Olaroz.

Millennial has engaged Hidrotec S.R.L., a Salta-based drilling company with extensive recent experience in drilling and testing salar-hosted lithium brines, to complete the Phase I core- and well drilling program. Millennial has engaged Mike Rosko of Montgomery and Associates Inc, a US-based hydrogeological consultancy to provide program guidance and act as the Company's qualified person for reporting results.

This news release has been reviewed by Iain Scarr, VP of Development and Exploration of the Company and a qualified person as that term is defined in National Instrument 43-101.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman, Director

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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